Macquarie International Infrastructure Fund Limited SGX Quarterly ...

Unaudited Financial Results=For the quarter ended 30 September 2007(b) The ManagerMacquarie Infrastructure Management (Asia) Pty Limited (the “Manager”) was appointed by MIIF as the sole andexclusive manager pursuant to a management agreement dated 19 May 2005.The following transactions occurred during the quarter between the Group, MIIF and the Manager:TransactionsGroupQuarterended30 Sep 07$’000GroupQuarterended30 Sep 06$’000CompanyQuarterended30 Sep 07$’000CompanyQuarterended30 Sep 06$’000Base management fees 4,586 3,020 4,586 3,020Dividends paid or payable 4,316 3,856 4,316 3,856The following balances remained outstanding between the Group, MIIF and the Manager at the current reportingdate:BalancesGroupas at30 Sep 07$’000Groupas at31 Dec 06$’000Companyas at30 Sep 07$’000Companyas at31 Dec 06$’000Accrued base management fees 4,586 3,178 4,586 3,178Total liabilities payable to the Manager 4,586 3,178 4,586 3,178The Manager holds 106,776,610 ordinary shares in MIIF.For the quarter ended 30 September 2007, the MIIF Accumulation Index 1 was lower than the agreed benchmarkannual return of 8% (2% for the period). This resulted in a performance fee deficit 2 carried forward to the nextquarter.MIIF retained the services of qualified independent advisors, who have confirmed that the performance fee hasbeen determined in accordance with the management agreement between the Manager and MIIF dated 19 May2005, as disclosed in the MIIF Prospectus.1The performance of the MIIF Accumulation Index is measured as the average index value over the last 15 SGX-ST trading days ofeach three month period compared to the preceding three month period.2Where the MIIF Accumulation Index has underperformed the benchmark in prior periods, this underperformance is carried forward asa deficit and taken into account in calculating the performance fee payable. The deficit carried forward in relation to the calculation ofthis performance fee is approximately $42.3 million.Macquarie International Infrastructure Fund Limited Page 15